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Consolidated Statements of Income - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
INTEREST AND DIVIDEND INCOME    
Interest and Fees on Loans $ 31,886 $ 25,739
Interest on Deposits at Banks 479 198
Interest and Dividends on Investment Securities:    
Fully Taxable 2,948 2,189
Exempt from Federal Taxes 797 821
Total Interest and Dividend Income 36,110 28,947
INTEREST EXPENSE    
Interest Bearing Checking Accounts 370 163
Savings Deposits 5,587 417
Time Deposits over $250,000 574 28
Other Time Deposits 474 109
Federal Home Loan Bank Advances 793 187
Junior Subordinated Obligations Issued to Unconsolidated Subsidiary Trusts 169 169
Interest on Financing Leases 49 49
Total Interest Expense 8,016 1,122
NET INTEREST INCOME 28,094 27,825
Provision for Credit Losses 1,554 769
NET INTEREST INCOME AFTER PROVISION FOR CREDIT LOSSES 26,540 27,056
NON-INTEREST INCOME    
Insurance Commissions 1,520 1,511
Net (Loss) Gain on Securities (104) 130
Net Gain on Sales of Loans 4 52
Other Operating Income 387 1,078
Total Non-interest Income 6,677 8,162
NON-INTEREST EXPENSE    
Salaries and Employee Benefits 11,947 11,286
Occupancy Expenses, Net 1,628 1,598
Technology and Equipment Expense 4,417 3,779
FDIC Assessments 479 307
Other Operating Expense 3,825 1,975
Total Non-interest Expense 22,296 18,945
INCOME BEFORE PROVISION FOR INCOME TAXES 10,921 16,273
Provision for Income Taxes 2,359 3,698
NET INCOME $ 8,562 $ 12,575
Average Shares Outstanding:    
Basic (in shares) [1] 16,552 16,511
Diluted (in shares) [1] 16,564 16,566
Per Common Share:    
Basic Earnings (in dollars per share) $ 0.52 $ 0.76
Diluted Earnings (in dollars per share) $ 0.52 $ 0.76
Income From Fiduciary Activities    
NON-INTEREST INCOME    
Revenue from contract with customer $ 2,275 $ 2,596
Fees for Other Services to Customers    
NON-INTEREST INCOME    
Revenue from contract with customer $ 2,595 $ 2,795
[1] 2022 Share and Per Share Amounts have been restated for the September 23, 2022 3% stock dividend.